Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - CROSS TIMBERS ROYALTY TRUST | d685382d8k.htm |
EXHIBIT 99.1
[NEWS RELEASE LETTERHEAD OF CROSS TIMBERS ROYALTY TRUST APPEARS HERE]
CROSS TIMBERS ROYALTY TRUST
DECLARES JANUARY CASH DISTRIBUTION
Dallas, Texas, January 18, 2019 – Simmons Bank, as Trustee of the Cross Timbers Royalty Trust (NYSE:CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.062202 per unit, payable on February 14, 2019, to unitholders of record on January 31, 2019. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions.
| Underlying Sales | ||||||||||||||||
| Volumes (a) | Average Price | |||||||||||||||
| Oil (Bbls) |
Gas (Mcf) |
Oil (per Bbl) |
Gas (per Mcf) |
|||||||||||||
| Current Month Distribution |
16,000 | 125,000 | $ | 55.41 | $ | 4.30 | ||||||||||
| Prior Month Distribution |
18,000 | 93,000 | $ | 61.49 | $ | 4.62 | ||||||||||
|
(a) Sales volumes are recorded in the month the Trust receives the related net profits income. Because of this, sales volumes may fluctuate from month to month based on the timing of cash receipts. |
| |||||||||||||||
Excess Costs
XTO Energy has advised the Trustee that $92,000 of excess costs was partially recovered on properties underlying the Texas Working Interest net profits interests. However after the partial recovery, there were no remaining proceeds from the properties underlying the Texas Working Interest net profits interests to be included in this month’s distribution. Underlying cumulative excess costs remaining on the Texas Working Interest net profits interests after the current month’s distribution total $1.6 million, including accrued interest of $254,000.
XTO Energy has advised the Trustee that $10,000 of excess costs was partially recovered on properties underlying the Oklahoma Working Interest net profits interests. However after the partial recovery, there were no remaining proceeds from the properties underlying the Oklahoma Working Interest net profits interests to be included in this month’s distribution. Underlying cumulative excess costs remaining on the Oklahoma Working Interest net profits interests after the current month’s distribution total $0.1 million, including accrued interest of $1,000.
For more information on the Trust, please visit our web site at www.crt-crosstimbers.com.
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| Contact: | Nancy Willis |
Vice President
Simmons Bank, Trustee
Toll Free – 855-588-7839